Finbourne Technology, a prominent London-based investment data management firm, has successfully secured £55m in a Series B raise.
According to UKTN, the investment was spearheaded by Highland Europe and AVP, marking a significant milestone for the company.
Founded in 2016, Finbourne Technology specialises in providing robust data management solutions to asset owners and managers. The company’s platform is designed to facilitate efficient tracking of investment performances and streamline compliance processes. Among its notable clients are Northern Trust and the Pension Insurance Corporation, underscoring its pivotal role in the investment management sector.
The infusion of £55m will primarily be used to enhance Finbourne’s go-to-market strategies. According to the company, these funds will be directed towards significant investments in marketing initiatives tailored to key segments within the global investment management, banking, and capital markets spheres. The aim is to broaden the reach and utility of Finbourne’s services, enabling a more comprehensive and trusted consolidation of financial data across various operational fronts.
Additional details revealed by the company include the engagement of Santander Corporate and Investment Banking as the financial advisor for the transaction. This partnership highlights the strategic measures Finbourne is adopting to ensure the effective utilisation of the newly acquired funds.
Finbourne co-founder and CEO Thomas McHugh expressed his enthusiasm about the future prospects enabled by this funding. “This funding round and support from top-tier investors will help us deliver our enhanced go-to-market strategies,” McHugh noted. “By significantly investing in go-to-market initiatives across our key segments, we can help even more global investment management, banking, and capital markets firms access and utilise a trusted and consolidated view of their financial data across the front, middle and back office.”
Previously, Finbourne had raised £15m in a Series A round back in 2021 and was also granted a £30m debt facility in 2023. These earlier investments have laid a solid foundation for the current expansion efforts.
Highland Europe partner Tony Zappala also commented on the funding, highlighting Finbourne’s innovative approach. “Over the past few years, Finbourne has built a revolutionary SaaS platform that is enabling many of the world’s biggest financial institutions to move from legacy, siloed solutions to a modern data architecture, allowing full, real-time visibility and optimal decision-making,” said Zappala. “We look forward to supporting the Finbourne team as it expands operations globally to support more clients and continues its mission to deliver cost and operational efficiencies at scale.”
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